Four-Unit Beach-Area
New
For Sale
$639,900
212 Dogwood Dr. N, Surfside Beach, SC 29575
MULTI-FAMILY, Surfside Beach, SC
Property Size2,700 SF
Price / SF$237
Days on Market3
Property Features for 212 Dogwood Dr. N
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Designated Flood Zone, Rectangular, East of Bus. 17, Inside City Limits
Elementary school
Seaside Elementary School
Middle school
Saint James Middle School
High school
Saint James High School
Subdivision
29A Surfside Beach--East of 17 & north of Surfside Drive
Standard status
Active
Size
2,700 SF
Utilities
Utilities
Cable Available
Amenities
common laundry area
decks
parking
Building Details
Year built
1964
Number of units
4
Listing Agency:
Beach & Forest Realty
(843) 712-2721
Listed By:
Chance Leith · License #82745
(843) 455-3374
Added: Sep 28
Changed: Sep 29
Last Checked: Sep 30 at 6:06PM
MLS# 2623817
Copyright © 2026 Coastal Carolina Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,700-square-foot quadplex, built in 1964, contains four apartments: one 3-bedroom, 2-bath unit and three 1-bedroom, 1-bath units. The larger residence occupies the second level and has its own washer and dryer hookup. The other apartments are distributed across the ground and second floors, with a shared laundry area on the ground level. New decks were installed on both sides, and the roof was replaced in 2024.
Parking is accessible from both Dogwood Drive and Pinewood Drive. Surfside Drive is two blocks away, and the property is three blocks from the beach. The Surfside Beach Pier, parks, restaurants, shopping, and other local attractions are nearby. The property is within the Surfside Beach short-term rental zone.
Parking is accessible from both Dogwood Drive and Pinewood Drive. Surfside Drive is two blocks away, and the property is three blocks from the beach. The Surfside Beach Pier, parks, restaurants, shopping, and other local attractions are nearby. The property is within the Surfside Beach short-term rental zone.
Key Highlights
- Four apartments: one 3‑bedroom, 2‑bath unit and three 1‑bedroom, 1‑bath units
- 2,700 square feet; built in 1964
- Roof replaced in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,579
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$551,580
$551.6K
Cap Rate 7%
$393,986
$394.0K
Cap Rate 9%
$306,433
$306.4K
Market Conditions
NOI Build-Up for 2,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.5K $15.36/SF
− Vacancy
−$2.1K −$0.77/SF
EGI
$39.4K $14.59/SF
− OpEx
−$11.8K −$4.38/SF
NOI
$27.6K $10.21/SF
Area
Horry County, SC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$551,580
Cap Rate 7%
$393,986
Cap Rate 9%
$306,433
Alternative Uses
Best Use
Multifamily LT 5
$394.0K
$344.7K – $459.7K
NOI $27,579 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$356.1K
$311.6K – $415.4K
NOI $24,924 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$684.3K
$598.8K – $798.3K
NOI $47,900 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 29575, SC
18,135
Population
16,761
Households
1.1
Avg Household Size
57
Median Age
33%
College-Educated
96%
High-School Grad
10.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$72,029
Median Household Income
$38,182
Median Earnings
$1,234
Median Rent
$278,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - A mixed unit layout pairs one larger residence with three one-bedroom apartments and shared laundry access.
Where is this quadplex located?
The property is located at 212 Dogwood Dr. N Surfside Beach, SC.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: Four apartments: one 3‑bedroom, 2‑bath unit and three 1‑bedroom, 1‑bath units; 2,700 square feet; built in 1964; Roof replaced in 2024
